The country’s online supplemental education opportunity is likely to be worth $2.5 billion by the end of this year and poised to grow at 15 per cent over the next three years, a report by RedSeer Consulting said today.
“The major drivers for the growth of Indian online supplemental education will be engaging course material, inventive pedagogy and reaching out to the distant locations of the country which have minimal supplemental education infrastructure,” RedSeer Consulting Associate Consultant Mukesh Kumar said.
According to the report, the current addressable demographic with online supplemental education is 20 million students (in classes 6-12), who would be willing to go online for accessing supplemental education.
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A large percentage of these students hail from Tier II and III cities and are paying for standard offline tuitions. Such students are an important market for online supplemental education in India, the report said.
The business opportunities in smaller cities is large, but there are multiple hindrances to the adoption of online supplementary education platforms.
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These include poor Internet connectivity in smaller cities, reluctance to pay for online education and lack of awareness on online supplemental education.
The report said steps like combining free trial periods and paid/premium versions in innovative ways, optimising service for low Internet speeds, aggressive local marketing events and tie up with government schools can help in tapping the opportunity in the segment.